Hong Kong equities rose 30 points or 0.1% to 24,768 in early trading on Wednesday, trying to extend gains for the fourth session, driven mainly by financial stocks.
The market held at its highest level in three years as U.S. futures inched higher following a weak Wall Street session, with investors cautiously awaiting the Federal Reserve's interest rate decision. In China, the PBoC is anticipated to keep its key lending rates at record lows during Thursday's monthly review.
Meanwhile, Beijing's broad initiative to spur consumption and reduce the effects of rising tariffs continued to support market sentiment in the city. Capping further strength was local data showing Hong Kong's jobless rate hit a 2-year peak of 3.2% in the three months ending February. BYD Co. continued its upward trend after launching its new EV charging system and planning to open a new factory in Germany. Other winning stocks included Budweiser Brewing (4.2%), China Resources Gas (3%), and Xiaomi Corp. (1.4%).
Source : Trading Economics
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